10/16/2014
*Note: "Long term unemployed" figures do not reflect the number of individuals no longer receiving unemployment benefits
WASHINGTON – The White House on Wednesday announced the creation of a new fund of $170 million to reduce long-term unemployment in an effort to emphasize President Barack Obama’s economic achievements three weeks before the mid-term elections where Democrats fear losing control of the Senate.
The fund is included in the “Ready to Work Partnership” initiative that, last January, the White House and 300 U.S. companies launched to foster hiring policies that do not discriminate against the long-term unemployed.
The approach of the mid-term elections has spurred Democrats to defend the achievements of the plan that, according to a report released on Wednesday, has resulted in the hiring of 900,000 unemployed people over the past six months.
Since December, long-term unemployment has fallen from 2.5 percent to 1.9 percent, which represents 90 percent of the total decline in unemployment over the past 10 months, the Labor Department said.
Labor Secretary Thomas Perez said Wednesday in a statement that “individuals struggling with long-term unemployment are better off than they were 12 months ago, but there are still twice as many of them as there were before the recession. The constant struggle to find work has left many of them feeling discouraged and disregarded.”
The Ready to Work plan will finance, in 20 U.S. states and Puerto Rico, 23 cooperation agreements with the private sector, non-governmental organizations and local governments to help reduce the number of long-term unemployed persons.
Each organization will receive grants of between $3 million and $10 million in exchange for training the long-term unemployed, providing skills that could lead to job interviews and new hires.
source
*Note: "Long term unemployed" figures do not reflect the number of individuals no longer receiving unemployment benefits
WASHINGTON – The White House on Wednesday announced the creation of a new fund of $170 million to reduce long-term unemployment in an effort to emphasize President Barack Obama’s economic achievements three weeks before the mid-term elections where Democrats fear losing control of the Senate.The fund is included in the “Ready to Work Partnership” initiative that, last January, the White House and 300 U.S. companies launched to foster hiring policies that do not discriminate against the long-term unemployed.
The approach of the mid-term elections has spurred Democrats to defend the achievements of the plan that, according to a report released on Wednesday, has resulted in the hiring of 900,000 unemployed people over the past six months.
Since December, long-term unemployment has fallen from 2.5 percent to 1.9 percent, which represents 90 percent of the total decline in unemployment over the past 10 months, the Labor Department said.
Labor Secretary Thomas Perez said Wednesday in a statement that “individuals struggling with long-term unemployment are better off than they were 12 months ago, but there are still twice as many of them as there were before the recession. The constant struggle to find work has left many of them feeling discouraged and disregarded.”
The Ready to Work plan will finance, in 20 U.S. states and Puerto Rico, 23 cooperation agreements with the private sector, non-governmental organizations and local governments to help reduce the number of long-term unemployed persons.
Each organization will receive grants of between $3 million and $10 million in exchange for training the long-term unemployed, providing skills that could lead to job interviews and new hires.
source
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